Electronics market out of the woods

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Báo QĐND English - 26 month(s) ago 10 readings

Electronics market out of the woods

The air conditioner and electric fan market began showing signs of recovery over the past few days after the long, cold winter.

The recent hot weather has driven up the purchasing power of these electronic products, as air conditioners and electric fans are highly sought after by consumers in Hanoi.

Hien, a staff member at Nguyen Kim supermarket, said the number of air conditioners sold at the shop has increased threefold over the past few days.

Among the best selling items are those of major brands such as Reetech, Daikin and LG with a medium-range capacity of 9,000BTU, costing between VND5.4 million and VND11 million.

Most customers want to have their air conditioners installed during the day, making it difficult for our technicians to meet the increasing number of orders, said Hien.

Electric fans ranging between VND500,000 - VND1 million are consumer favourites. Steam fans at more than VND2 million are also popular.

Every day between 30 and 50 visitors come and ask to buy steam fans, said another Nguyen Kim supermarket staff.

Early hot summer days are also a boon for other big electronics supermarkets such as Pico, Media Mart, and Tran Anh.

Pico and Tran Anh said the number of customers coming to their stores has increased considerably in the past week.

It’s worth mentioning that worries about economic difficulties in February and late Match forced consumers to tighten their belts, and like many other electronic products, air conditioners and electric fans were largely unmarketable.

Though there has not been a sharp increase in consumer purchasing power, the electronics market is warming up, said Pham Loan, a Pico supermarket representative.

Air conditioners, refrigerators, electric fans and blenders are the supermarket’s main revenue generators these days, she confided.

Almost double the number of these items was sold in the past week compared to the previous weeks, but the market will really begin heating up in a couple of weeks when summer temperatures reach their peak, said the supermarket representative.

Sales promotions

Most electronics supermarkets are offering competitive prices on their products along with more professional customer-care services to stimulate the purchasing power.

Nguyen Kim is discounting various brands of air conditioners by VND400,000-500,000/unit to woo customers.

Pico is promoting its customer-care services, including free maintenance and door-to-door delivery. It is also launching an accumulated points system for customer benefits to encourage future sales.

Not to be outdone by its competitors, Tran Anh is launching a big summer sale, featuring discounts of 30-49 percent on many electronic products at the store.

Online shopping websites are also taking advantage of this favourable opportunity to gain the lion’s share of the electronics market.

Orders for cooling and refrigeration appliances placed through the 1top.vn have increased significantly. Hand-held steam fans are now selling for just VND90,000/unit.

Meanwhile, Chodientu.vn has reported a sharp increase in orders for electric fans, which currently account for 40 percent of all its orders for electronic products.

These online services are luring many customers because they sell the same products as their competitors for between VND100,000-300,000 less, said Ngo Ba Manh, a Chodientu.vn business manager in the northern region.

Several heat waves are forecast to strike Vietnam this summer which will also coincide with the 2012 European Football Championships, offering a bonanza for electronics supermarkets hoping to make a quick profit.

Source: VOV

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